ETHUSD to see a sideways movement(4Hr) | Upper band resistance

Market in last 24hrs

• ETHUSD saw an uptrend as a breakout with a gap up observed in price
  
• Price volatility was very high. The market moved ~8.18% between $617.87 and $571.11
  

Today’s Trend analysis

• ETHUSD expected to see a sideways movement with upper band resistance and Bollinger band moving upwards
  
• Price at the time of publishing: $608.66
  
• ETH’s market cap: $69.17 Billion
  
• Oscillator indicators are mostly neutral. RSI at 69
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a change from increasing with an increase in price to a decrease in volume with an increase in price
  

Price expected to see a sideways movement with upper band resistance and Bollinger band moving upwards. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 69, in the neutral region above the midline, close to the overbought region. CCI with a value of around 105 in the overbought region indicating a downtrend soon. Another interesting point to notice here is that the volume observed a change from increasing with an increase in price to a decrease in volume with an increase in price indicating a shift from buyers to sellers.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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- Mudrex